Checklist: Setting Up Gains and Losses
You must complete tasks in Settings before you process currency exchange gains and losses.
Step | Description |
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1 | Turn on the Multicurrency feature, select currencies, and establish exchange rates. |
2 | In | , define the general ledger accounts that you will use to track realized and unrealized gains and losses.
3 | In the Gains and Losses section of | , specify the default general ledger accounts to which realized and unrealized gains and losses are posted.
4 | In the Multicurrency section of | , select the currency for each foreign-denominated general ledger account. You can also specify the gains and losses accounts that you want to post to when the Gains/Losses and Revaluations process revalues the account balance.
Parent Topic: Gains and Losses